The management of Texas World Speedway, located in Texas World Speedway, posted on the track’s Facebook page today to address rumors concerning the track’s future. Here is that post:
“Tap the brakes on the rumor mill!
“A recent news report shows a redevelopment plan for the property on which TWS sits. Rumors are flying fast and furious, and there are even “Save TWS” petitions roaming the interwebs.
“First, let it be known that the management at TWS loves this track as much or more than anyone. No one spends this much time and effort, often 7 days a week, on something they don’t care about. That said, the property was purchased several years ago and the owners made no misrepresentations about their intentions. They are real estate investors, not motorsports facility operators. There was an ongoing attempt to sell the property, and an IPO to clubs and racers, and no one in the motorsports world seemed to be interested.
“Now the owners have filed a redevelopment plan for the property so that, at some point in the future, the property can be repurposed for residential and other uses. Keep three things in mind:
“1. That is the eventual fate of TWS, regardless of who owns it. College Station is a high growth area and is moving South. At some point in the future, TWS will be no more.
“2. This is an eventuality that most of us understood, but none of us knew, or know the exact timeframe of.
“3. It’s only a plan that shows the owners intentions. As some of you know, there are a number of hoops to jump through between the first plan and breaking ground.
“So what does this mean for the racing community? Right now, not much. We know what we’ve always known – TWS could be sold or redeveloped at any time. So nothing really changes for the ongoing operation of the track. All contracts will be honored, and unless track management is instructed otherwise, we will start writing 2015 contracts in the Fall. Improvements will continue.
“The owners will let us know months in advance of anything that will impact speedway operations, so no one will be surprised or left holding the bag, whether it’s 18 months or 5 years down the road.
“Until then, it’s business as usual here.”